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Warehouse Located In A Prominent Position, Unit B1, Penfold Trading Estate, Imperial Way, Watford, WD24 4YY

4,948 Sq Ft / Industrial / Warehouse

To Let - £55,000.00 per annum

Under Offer - Last updated: 17 November 2020

Comprising a self-contained single storey warehouse / industrial unit with office.

Location

The Penfold Trading Estate is well located approximately 1½ miles distant north of the town centre and Watford Junction main line railway station (Euston 18 mins and to the north).  Junction 5 of the M1 is approximately 1 mile via the dual carriage Stephenson Way (A4008) with Junctions 19, 20 and 21 of the M25 being within 3 miles.

The estate is well populated by trade counter companies including Topps Tiles, Screwfix, Arco, Howdens, Bemco, Euro Car Parts, City Plumbing and ToolStation.

Accommodation

Warehouse (including 240 ft² office) - 4,232 ft² (393 m²)

Office (or Showroom / Trade Counter) - 716 ft² (67 m²)

Total - GIA 4,948 ft² (460 m²)

N.B. There is a quality mezzanine in the warehouse of approx. 229 ft² that can be made available by separate negotiation.

Terms

Lease - An assignment of the current lease that commenced 25th December 2017 for a term of 10 years expiring December 2027. There is an option for the tenant to break on 24th December 2022.

The Landlord maintains the exterior of the property (roof, guttering, elevations) through the service charge. The tenant to maintain the premises in good and substantial repair.

Current Rent - £55,000 per annum exclusive.

Rent rises to £61,000 per annum exclusive from 25th December 2019 and to £65,000 per annum exclusive from 25th December 2021.

There will be a rent review with effect 254th December 2022 if the tenant does not break.

VAT is payable.

Service Charge - The estate has a service charge levied at an approx. rate of £1.21 per sq ft per annum to cover such items as external maintenance and repair of the roofs, gutters, common parts, waste removal etc.

Business Rates - Rateable Value: £44,636 giving rates payable (2019/20) of £21,916.28 per annum.

Rates payable should be verified with Watford Council - 01923 278466.

EPC - Energy Performance Asset Rating is D 84.  

Specification

  • Covered loading bay (346 ft²)
  • Power loading door (3m X 3m)
  • 3.44 clear eaves to warehouse
  • Gas blower heater (warehouse)
  • 3 Phase power
  • Heated, lit and carpeted office
  • M&F WC’s plus Kitchen
  • 6 car parking spaces

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  To Let £55,000.00 per annum

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Contact agents

Chris Smiddy

Smiddy & Co

01923 375610



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